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20121202
20121210
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with the fiscal cliff and dealing with our debt situation and not have a debt ceiling hanging out there as a diversionary but dangerous issue. but for some reason, inexplicable, the minority leader, the republican leader, changed his mind. now, he said on the floor well, important measures deserve 60 votes, but when he brought it up earlier, he acted as if he was in favor of it, he was offering it. and now, of course, essaying no, he's going to object to his own resolution. i wish he would reconsider. again, playing -- using the debt ceiling as leverage, using the debt ceiling as a threat, using the debt ceiling as a way to achieve a different agenda is dangerous. it's playing with fire. and yet, with the opportunity to take that off the table, reassure the markets, the minority leader blinked. i don't know why. it's hard to figure out the strategy that he's employing, but we would hope on this side of the aisle -- and i think i speak for all of us -- that he would reconsider and perhaps early next week let us vote on his own resolution. i yield the floor. mr. schumer: i notice th
the fiscal cliff. now, the republican plan purports to cut $1.3 trillion and raise $800 billion in new revenues. it did contain four specifics. four. cut medicare specific number one. $600 billion. cut medicaid, pays for nursing homes for seniors, of course. priority number two. three, cut the adequate cola for seniors on social security. even though 40% of seniors depend principally or totally upon social security and the cola already underestimated inflation particularly for medicare, essentials they need. cut that. not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which principally who ben pets, who else, millionaires and billionaires. now -- benefits, wh
and the white house. house republican leaders have made a counter offer to president obama in the fiscal cliff negotiations proposing to cut to true knowledge with a combination of spending cuts come entitlement reform, and new tax revenues. there was a three page letter signed by speaker boehner, majority leader eric cantor, and other senior republicans including representative paul ryan. and this mornings "washington journal," we heard about tax reductions and credits that would go away if the fiscal cliff passes in january. >> board or series looking into the so-called fiscal cliff, we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. joining us from the wall street journal is don mckinnon. thanks so much for joining us today. what are the loopholes and deductions? we hear those words a lot, but what are they? guest: loopholes or tax breaks of all different sorts, and whether you like a particular loophole or not depends on where you sit, i guess. there are lots of loopholes that are deductions. deductions are those that most people are
that fiscal cliff house republicans are now offering up a plan of their own to avert that combination of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this is a camp david-style summit might help things
the country goes over the fiscal cliff goes by, more and more republicans have joined our chorus. they recognize that the willing misto compromise sooner has put them in a real bind. so reasonable republicans are asking the house leadership to allow a vote on the senate-passed legislation. what was once a trickle has become more of a flood. last week republican representative tom cole said it was time to give middle-class families certainty their taxes won't go up by $2,200 on average on january 1. then tim scott from north carolina ad admitted that the senate-passed tax cut will surely pass the house since it will take only 26 republican ren votes for passage. i don't most of the time agree with david brooks but no one can dispute this columnist for "the new york times" is brilliant in writing. he's a great, great journalist and explains things so well. i really have great admiration for him. he wrote yesterday, "republicans have to realize they are going to have to cave in on tax rates." that's the way it is, mr. president. "they're going to have to cave on tax rates." then on
-called fiscal cliff. president obama meets with bipartisan groups of governors about the problem today. the meeting a day after house speaker jonathan boehner laid a republican plan to solve the crisis on the table and calls for $800 billion in higher taxes revenue and does not increase taxes on wealthy americans. the white house is rejecting the offer, saying any deal must include an end to tax cuts for families making over $250,000. >>> and the senate has approved a new u.s. commander for the war in afghanistan. he's marine corporal general joseph doneford and replaces general john al llen, nominatedo head forces in europe. allen's nomination on hold because of his involvement in the sex scandal that brought down former cia director david petraeus. >>> in foreign news, new intelligence reports, indicate syria's government may be preparing to use chemical and biological weapons against the rebels. in response though, the u.s. and its allies are considering military options. here's abc's martha raddatz. >> reporter: the latest intelligence is alarming. officials telling abc news the u.
Search Results 0 to 5 of about 6